Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Expands By 2,371.8%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 46,346 shares, an increase of 2,371.8% from the February 12th total of 1,875 shares. Based on an average daily trading volume, of 20,337 shares, the short-interest ratio is currently 2.3 days. Approximately 1.4% of the shares of the company are sold short. Approximately 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 20,337 shares, the short-interest ratio is currently 2.3 days.

Scinai Immunotherapeutics Stock Up 1.0%

Shares of SCNI traded up $0.01 during trading hours on Tuesday, reaching $0.75. 5,413 shares of the stock traded hands, compared to its average volume of 50,722. The company’s 50-day moving average price is $0.84 and its two-hundred day moving average price is $1.11. Scinai Immunotherapeutics has a 52-week low of $0.61 and a 52-week high of $6.18.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Scinai Immunotherapeutics currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Scinai Immunotherapeutics

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its holdings in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the quarter. Citadel Advisors LLC owned approximately 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent reporting period. 58.41% of the stock is currently owned by institutional investors.

About Scinai Immunotherapeutics

Scinai Immunotherapeutics Inc is a clinical-stage biotechnology company dedicated to developing novel small-molecule therapies that enhance the immune system’s capacity to recognize and destroy cancer cells. The company’s research emphasizes checkpoint modulation and the discovery of compounds designed to work in concert with established immuno-oncology treatments across a range of solid tumors.

Scinai’s pipeline comprises preclinical and early-stage candidates, and the company relies on collaborations with academic institutions and contract research organizations to advance its discovery and development efforts.